Three new supervisory authorities in the areas of banking, insurance and securities look set to gain important powers under proposed legislation to be published by the European Commission this Wednesday (23 September).
Current drafts of the legislation bestow the three authorities, whose job will be to supervise individual financial institutions, with a co-ordinating role in emergency cases such as the shutting down of stock markets or calling a halt to short selling following a terrori...
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? Login